Boomerang buyers — homeowners who lost their home to foreclosure but are looking to buy again — are re-entering the housing market and this article from Bankrate.com (via The Sacramento Bee) offers some practical tips to help them get ready to make the move including repairing their credit and learning about the different waiting periods required for various government-backed loans. Read more.
In other headlines:
Mortgage rates fall again – Chicago Tribune
JPMorgan to Pay $614M for Faulty FHA, VA Loans – REALTOR.org